Lepu Medical Pays $23.3M for 13% Stake in Australia's Viralytics
January 8, 2018 -- Lepu Medical (Beijing) acquired a 13% stake in Australia's Viralytics via a $23.3 million private placement of Viralytics' shares. Viralytics will use the funds for an Australian Phase III trial of CAVATAK, its oncolytic immunotherapy based on a common cold virus. Lepu has started China clinical trials of its own PD-1 and PD-L1 checkpoint inhibitors, a class of drugs that are expected to be effective adjuncts to CAVATAK. Besides pharmaceutical drugs, Lepu is involved in medical devices, healthcare services, and private hospitals.